Transact Technologies (TACT)
Market Price (5/26/2026): $3.86 | Market Cap: $39.3 MilSector: Industrials | Industry: Electrical Components & Equipment
Transact Technologies (TACT)
Market Price (5/26/2026): $3.86Market Cap: $39.3 MilSector: IndustrialsIndustry: Electrical Components & Equipment
Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.
Cash is significant % of market capNet D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is -32% Strong revenue growthRev Chg LTMRevenue Change % Last Twelve Months (LTM) is 16% Attractive cash flow generationCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 13% Attractive yieldFCF Yield is 12% Low stock price volatilityVol 12M is 48% Megatrend and thematic driversMegatrends include Experience Economy & Premiumization. Themes include Experiential Retail, and Travel & Leisure Tech. | Weak multi-year price returns2Y Excs Rtn is -37%, 3Y Excs Rtn is -127% | Not profitable at operating income levelOp Inc LTMOperating Income, Last Twelve Months is -0.6 Mil, Op Mgn LTMOperating Margin = Operating Income / Revenue Reflects profitability before taxes and before impact of capital structure (interest payments). is -1.2% Expensive valuation multiplesP/EBITPrice/EBIT or Price/(Operating Income) ratio is 966x Weak revenue growthRev Chg 3Y AvgRevenue Change % averaged over trailing 3 years is -7.7% Yield minus risk free rate is negativeERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -5.4% Key risksTACT key risks include [1] its heavy reliance on a single contract manufacturer in Thailand for substantially all of its production and [2] intense pricing competition alongside a domestic casino market slowdown caused by overstocking from a large buyer. |
| Cash is significant % of market capNet D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is -32% |
| Strong revenue growthRev Chg LTMRevenue Change % Last Twelve Months (LTM) is 16% |
| Attractive cash flow generationCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 13% |
| Attractive yieldFCF Yield is 12% |
| Low stock price volatilityVol 12M is 48% |
| Megatrend and thematic driversMegatrends include Experience Economy & Premiumization. Themes include Experiential Retail, and Travel & Leisure Tech. |
| Weak multi-year price returns2Y Excs Rtn is -37%, 3Y Excs Rtn is -127% |
| Not profitable at operating income levelOp Inc LTMOperating Income, Last Twelve Months is -0.6 Mil, Op Mgn LTMOperating Margin = Operating Income / Revenue Reflects profitability before taxes and before impact of capital structure (interest payments). is -1.2% |
| Expensive valuation multiplesP/EBITPrice/EBIT or Price/(Operating Income) ratio is 966x |
| Weak revenue growthRev Chg 3Y AvgRevenue Change % averaged over trailing 3 years is -7.7% |
| Yield minus risk free rate is negativeERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -5.4% |
| Key risksTACT key risks include [1] its heavy reliance on a single contract manufacturer in Thailand for substantially all of its production and [2] intense pricing competition alongside a domestic casino market slowdown caused by overstocking from a large buyer. |
Qualitative Assessment
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Transact Technologies (TACT) stock has gained about 5% since 1/31/2026 because of the following key factors:
1. Mixed Q4 2025 Earnings Performance: Transact Technologies reported a disappointing fourth quarter for 2025 on March 10, 2026, missing analyst expectations for both earnings per share (EPS) and revenue. The company posted an EPS of -$0.11, falling short of the -$0.08 estimate by $0.03, and reported revenue of $11.45 million, which missed the $12.036 million estimate by $0.586 million. This underperformance likely acted as a downward pressure on the stock.
2. Return to Profitability and Revenue Growth in Q1 2026: The company reported a rebound in its first-quarter 2026 results on May 12, 2026, returning to GAAP profitability with a diluted EPS of $0.07. Net sales increased by 10% year-over-year to $14.4 million, driven by a 24% rise in casino and gaming sales and a 26% growth in recurring Food Service Technology (FST) revenue. This positive financial turnaround provided upward momentum, balancing the earlier negative sentiment.
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1. Mixed Q4 2025 Earnings Performance: Transact Technologies reported a disappointing fourth quarter for 2025 on March 10, 2026, missing analyst expectations for both earnings per share (EPS) and revenue. The company posted an EPS of -$0.11, falling short of the -$0.08 estimate by $0.03, and reported revenue of $11.45 million, which missed the $12.036 million estimate by $0.586 million. This underperformance likely acted as a downward pressure on the stock.
2. Return to Profitability and Revenue Growth in Q1 2026: The company reported a rebound in its first-quarter 2026 results on May 12, 2026, returning to GAAP profitability with a diluted EPS of $0.07. Net sales increased by 10% year-over-year to $14.4 million, driven by a 24% rise in casino and gaming sales and a 26% growth in recurring Food Service Technology (FST) revenue. This positive financial turnaround provided upward momentum, balancing the earlier negative sentiment.
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Stock Movement Drivers
Fundamental Drivers
The 5.7% change in TACT stock from 1/31/2026 to 5/25/2026 was primarily driven by a 5.1% change in the company's Total Revenues ($ Mil).| (LTM values as of) | 1312026 | 5252026 | Change |
|---|---|---|---|
| Stock Price ($) | 3.68 | 3.89 | 5.7% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 50 | 53 | 5.1% |
| P/S Multiple | 0.7 | 0.7 | 1.3% |
| Shares Outstanding (Mil) | 10 | 10 | -0.7% |
| Cumulative Contribution | 5.7% |
Market Drivers
1/31/2026 to 5/25/2026| Return | Correlation | |
|---|---|---|
| TACT | 5.7% | |
| Market (SPY) | 8.1% | 3.3% |
| Sector (XLI) | 4.1% | -1.4% |
Fundamental Drivers
The -17.4% change in TACT stock from 10/31/2025 to 5/25/2026 was primarily driven by a -24.4% change in the company's P/S Multiple.| (LTM values as of) | 10312025 | 5252026 | Change |
|---|---|---|---|
| Stock Price ($) | 4.71 | 3.89 | -17.4% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 48 | 53 | 10.2% |
| P/S Multiple | 1.0 | 0.7 | -24.4% |
| Shares Outstanding (Mil) | 10 | 10 | -0.9% |
| Cumulative Contribution | -17.4% |
Market Drivers
10/31/2025 to 5/25/2026| Return | Correlation | |
|---|---|---|
| TACT | -17.4% | |
| Market (SPY) | 9.9% | 12.3% |
| Sector (XLI) | 11.5% | 4.0% |
Fundamental Drivers
The 11.8% change in TACT stock from 4/30/2025 to 5/25/2026 was primarily driven by a 21.8% change in the company's Total Revenues ($ Mil).| (LTM values as of) | 4302025 | 5252026 | Change |
|---|---|---|---|
| Stock Price ($) | 3.48 | 3.89 | 11.8% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 43 | 53 | 21.8% |
| P/S Multiple | 0.8 | 0.7 | -6.7% |
| Shares Outstanding (Mil) | 10 | 10 | -1.6% |
| Cumulative Contribution | 11.8% |
Market Drivers
4/30/2025 to 5/25/2026| Return | Correlation | |
|---|---|---|
| TACT | 11.8% | |
| Market (SPY) | 36.0% | 9.7% |
| Sector (XLI) | 32.7% | 8.4% |
Fundamental Drivers
The -30.5% change in TACT stock from 4/30/2023 to 5/25/2026 was primarily driven by a -21.5% change in the company's P/S Multiple.| (LTM values as of) | 4302023 | 5252026 | Change |
|---|---|---|---|
| Stock Price ($) | 5.60 | 3.89 | -30.5% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 58 | 53 | -9.1% |
| P/S Multiple | 1.0 | 0.7 | -21.5% |
| Shares Outstanding (Mil) | 10 | 10 | -2.6% |
| Cumulative Contribution | -30.5% |
Market Drivers
4/30/2023 to 5/25/2026| Return | Correlation | |
|---|---|---|
| TACT | -30.5% | |
| Market (SPY) | 86.3% | 14.9% |
| Sector (XLI) | 79.6% | 12.1% |
Price Returns Compared
| 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Total [1] | |
|---|---|---|---|---|---|---|---|
| Returns | |||||||
| TACT Return | 54% | -42% | 10% | -41% | -2% | -2% | -45% |
| Peers Return | 15% | -10% | 110% | 95% | 94% | 119% | 1700% |
| S&P 500 Return | 27% | -19% | 24% | 23% | 16% | 9% | 98% |
Monthly Win Rates [3] | |||||||
| TACT Win Rate | 58% | 42% | 42% | 50% | 42% | 40% | |
| Peers Win Rate | 52% | 40% | 65% | 62% | 60% | 71% | |
| S&P 500 Win Rate | 75% | 42% | 67% | 75% | 67% | 60% | |
Max Drawdowns [4] | |||||||
| TACT Max Drawdown | -43% | -67% | -37% | -57% | -33% | -24% | |
| Peers Max Drawdown | -33% | -46% | -31% | -35% | -48% | -20% | |
| S&P 500 Max Drawdown | -5% | -25% | -10% | -8% | -19% | -9% | |
[1] Cumulative total returns since the beginning of 2021
[2] Peers: POWL, FPS, ETN, VRT, BE.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2026 data is for the year up to 5/22/2026 (YTD)
How Low Can It Go
| Event | TACT | S&P 500 |
|---|---|---|
| 2025 US Tariff Shock | ||
| % Loss | -25.7% | -18.8% |
| % Gain to Breakeven | 34.6% | 23.1% |
| Time to Breakeven | 122 days | 79 days |
| 2023 SVB Regional Banking Crisis | ||
| % Loss | -28.2% | -6.7% |
| % Gain to Breakeven | 39.3% | 7.1% |
| Time to Breakeven | 18 days | 31 days |
| 2020 COVID-19 Crash | ||
| % Loss | -73.5% | -33.7% |
| % Gain to Breakeven | 277.4% | 50.9% |
| Time to Breakeven | 334 days | 140 days |
| Q4 2018 Fed Policy Error / Growth Scare | ||
| % Loss | -40.9% | -19.2% |
| % Gain to Breakeven | 69.2% | 23.8% |
| Time to Breakeven | 879 days | 105 days |
| 2016-2017 Trump Reflation Bond Selloff | ||
| % Loss | -15.6% | -3.7% |
| % Gain to Breakeven | 18.5% | 3.9% |
| Time to Breakeven | 38 days | 6 days |
| 2015-2016 China Devaluation / Global Growth Scare | ||
| % Loss | -10.2% | -12.2% |
| % Gain to Breakeven | 11.4% | 13.9% |
| Time to Breakeven | 19 days | 62 days |
In The Past
Transact Technologies's stock fell -25.7% during the 2025 US Tariff Shock. Such a loss loss requires a 34.6% gain to breakeven.
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| Event | TACT | S&P 500 |
|---|---|---|
| 2025 US Tariff Shock | ||
| % Loss | -25.7% | -18.8% |
| % Gain to Breakeven | 34.6% | 23.1% |
| Time to Breakeven | 122 days | 79 days |
| 2023 SVB Regional Banking Crisis | ||
| % Loss | -28.2% | -6.7% |
| % Gain to Breakeven | 39.3% | 7.1% |
| Time to Breakeven | 18 days | 31 days |
| 2020 COVID-19 Crash | ||
| % Loss | -73.5% | -33.7% |
| % Gain to Breakeven | 277.4% | 50.9% |
| Time to Breakeven | 334 days | 140 days |
| Q4 2018 Fed Policy Error / Growth Scare | ||
| % Loss | -40.9% | -19.2% |
| % Gain to Breakeven | 69.2% | 23.8% |
| Time to Breakeven | 879 days | 105 days |
| 2014-2016 Oil Price Collapse | ||
| % Loss | -33.1% | -6.8% |
| % Gain to Breakeven | 49.4% | 7.3% |
| Time to Breakeven | 74 days | 15 days |
| 2011 US Debt Ceiling Crisis & European Contagion | ||
| % Loss | -40.9% | -17.9% |
| % Gain to Breakeven | 69.2% | 21.8% |
| Time to Breakeven | 715 days | 123 days |
| 2008-2009 Global Financial Crisis | ||
| % Loss | -60.4% | -53.4% |
| % Gain to Breakeven | 152.8% | 114.4% |
| Time to Breakeven | 79 days | 1085 days |
In The Past
Transact Technologies's stock fell -25.7% during the 2025 US Tariff Shock. Such a loss loss requires a 34.6% gain to breakeven.
Preserve Wealth
Limiting losses and compounding gains is essential to preserving wealth.
Asset Allocation
Actively managed asset allocation strategies protect wealth. Learn more.
About Transact Technologies (TACT)
TransAct Technologies Incorporated designs, develops, and markets transaction-based and specialty printers and terminals in the United States and internationally. Its thermal printers and terminals to generates labels, coupons, and transaction records, such as receipts, tickets, and other documents, as well as printed logging and plotting of data. The company also provides consumable products, including POS receipt paper, inkjet cartridges, ribbons, and other printing supplies, as well as replacement parts and accessories; maintenance and repair services; and refurbished printers. In addition, it offers EPICENTRAL print system, a software solution that enables casino operators to create promotional coupons and marketing messages, and print them at the slot machine; and technical support services, as well as spare parts and accessories. Further, the company provides BOHA! terminal that combines hardware and software components in a device that includes an operating system, touchscreen, and one or two thermal print mechanisms. It markets its products under the BOHA!, AccuDate, Epic, Ithaca, EPICENTRAL, and Printrex brands for food service technology, point of sale automation, casino and gaming, lottery, and oil and gas markets, as well as government. The company sells its products to original equipment manufacturers, value-added resellers, and distributors, as well as directly to end-users through its Webstore transactsupplies.com. TransAct Technologies Incorporated was incorporated in 1996 and is headquartered in Hamden, Connecticut.
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Here are 1-3 brief analogies for Transact Technologies (TACT):
- A more niche Zebra Technologies, providing specialized thermal printers and smart terminals with integrated software for businesses in specific industries like food service and casinos.
- Like HP Inc., but instead of general office printers, they focus on specialized transaction printers and smart terminals for demanding B2B environments such as restaurant kitchens, casino floors, and industrial sites.
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- Thermal Printers and Terminals: Devices designed to generate labels, coupons, transaction records, and printed data logs across various industries.
- Consumable Products: Printing supplies such as POS receipt paper, inkjet cartridges, ribbons, and other accessories for their printing solutions.
- Maintenance and Repair Services: Support and repair offerings for their range of printers and terminals.
- Refurbished Printers: Previously used printers that have been restored and resold.
- EPICENTRAL Print System: A software solution that allows casino operators to create and print promotional coupons and marketing messages directly at slot machines.
- Technical Support Services: Assistance and support for their hardware and software products.
- BOHA! Terminal: A combined hardware and software device featuring an operating system, touchscreen, and thermal print mechanisms, primarily for food service technology.
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Transact Technologies (TACT) Major Customers
Transact Technologies (TACT) sells primarily to other businesses and organizations across various industries. The company's major customers are the types of entities and market segments it serves, as well as the sales channels it utilizes. Its major customer categories include:- Food Service Technology: Businesses in the food service industry, including restaurants and hospitality venues, utilizing their specialized terminals and printers like the BOHA! terminal.
- Casino and Gaming / Lottery Operators: Casinos and lottery organizations that use TransAct's EPICENTRAL print system for promotional coupons and marketing messages, as well as other transaction printers for tickets and receipts.
- Point of Sale Automation: A broad category encompassing various businesses that require transaction-based printers for receipts, tickets, and other documents at the point of sale.
- Oil and Gas / Government: Clients in the industrial oil and gas sector and government agencies that utilize their printers for logging, plotting data, and other specialized printing needs.
- Original Equipment Manufacturers (OEMs), Value-Added Resellers (VARs), and Distributors: These are key indirect customers and sales channels through which TransAct's products reach end-users.
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John Dillon, Chief Executive Officer
John Dillon was appointed CEO of TransAct Technologies on April 4, 2023, having served as a Board member since 2011. He is an experienced executive who has previously served as CEO of several companies, including Aerospike, Inc., Engine Yard, Inc., Navis, Inc. (acquired by Zebra Technologies), Salesforce.com, and Hyperion Solutions (acquired by Oracle). He also held director positions at companies like Intacct, BMC, Clearwell Systems (acquired by Symantec), Epicor, and HyperRoll, Inc. (acquired by Oracle). Mr. Dillon began his career as a Systems Engineer for EDS and held various sales management positions, including at Oracle Corporation.
John Dillon was appointed CEO of TransAct Technologies on April 4, 2023, having served as a Board member since 2011. He is an experienced executive who has previously served as CEO of several companies, including Aerospike, Inc., Engine Yard, Inc., Navis, Inc. (acquired by Zebra Technologies), Salesforce.com, and Hyperion Solutions (acquired by Oracle). He also held director positions at companies like Intacct, BMC, Clearwell Systems (acquired by Symantec), Epicor, and HyperRoll, Inc. (acquired by Oracle). Mr. Dillon began his career as a Systems Engineer for EDS and held various sales management positions, including at Oracle Corporation.
Steven DeMartino, President and Chief Financial Officer
Steven DeMartino has been with TransAct Technologies since 1996 and is responsible for the company's overall operating strategy, as well as its finance, information technology, and human resources functions. He previously served as Executive Vice President, Chief Financial Officer, Treasurer and Secretary, and also held the position of Vice President and Corporate Controller at TransAct. Prior to joining TransAct, he worked as Controller for Copart, Inc. and as a Senior Accountant for PricewaterhouseCoopers. Mr. DeMartino is a Certified Public Accountant.
Steven DeMartino has been with TransAct Technologies since 1996 and is responsible for the company's overall operating strategy, as well as its finance, information technology, and human resources functions. He previously served as Executive Vice President, Chief Financial Officer, Treasurer and Secretary, and also held the position of Vice President and Corporate Controller at TransAct. Prior to joining TransAct, he worked as Controller for Copart, Inc. and as a Senior Accountant for PricewaterhouseCoopers. Mr. DeMartino is a Certified Public Accountant.
Tracey S. Winslow, Chief Revenue Officer
Tracey S. Winslow is responsible for developing and executing TransAct's global business strategies for its Global Casino, Gaming and Lottery sales and Food Service Technologies divisions.
Tracey S. Winslow is responsible for developing and executing TransAct's global business strategies for its Global Casino, Gaming and Lottery sales and Food Service Technologies divisions.
Brent Richtsmeier, Chief Technology Officer
Brent Richtsmeier joined TransAct in 2019 and is a champion of innovations in the mobile, IoT, cloud, and AI space. He previously served as Vice President of Development for Samsung for over a decade.
Brent Richtsmeier joined TransAct in 2019 and is a champion of innovations in the mobile, IoT, cloud, and AI space. He previously served as Vice President of Development for Samsung for over a decade.
Dana Loof, Chief Marketing Officer
Dana Loof leads TransAct Technologies' global marketing strategy and execution. She has more than three decades of experience driving growth for innovative SaaS and hardware companies.
```Dana Loof leads TransAct Technologies' global marketing strategy and execution. She has more than three decades of experience driving growth for innovative SaaS and hardware companies.
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TransAct Technologies (TACT) faces several key risks, primarily centered around its ongoing investment in its Food Service Technology (FST) platform, operational dependencies, and competitive market dynamics.
Key Risks to the Business:
- Uncertainty of Achieving and Sustaining Profitability Amidst Significant FST Investments: TransAct Technologies has reported net losses in recent years (2024 and 2025) and has indicated that it may not sustain profitability due to substantial ongoing investments in its Food Service Technology (FST) platform, particularly for the BOHA! product development and marketing. There is a risk that these investments may not generate the anticipated returns or growth, directly impacting the company's financial health. This also includes the execution risk associated with the successful migration and insourcing of the BOHA! software source code, for which the company acquired a perpetual license.
- Dependence on a Single Contract Manufacturer and Customer Concentration: A significant operational risk for TransAct stems from its reliance on a single contract manufacturer in Thailand for the assembly of most of its printers and terminals. Any disruption to this manufacturer could severely impact product availability. Additionally, the company faces customer concentration risk, as Light & Wonder accounted for 9% of its total net sales in 2025. A weakening relationship with this key customer could have a material adverse effect on the business.
- Intense Competitive Pressures and Risk of Technological Obsolescence: TransAct operates in highly competitive markets for transaction-based and specialty printers, FST terminals, and related software applications. Many competitors possess greater financial, technical, and marketing resources. The company faces increased competition in the Point of Sale (POS) automation market, which can lead to price reductions and reduced sales. Furthermore, rapid technological changes, including advancements in artificial intelligence and machine learning (AI/ML), pose a continuous threat; a failure to innovate and keep pace could impact TransAct's competitive position and market share.
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TransAct Technologies Incorporated (TACT) operates in several distinct markets, with its main products and services addressing the food service technology, point-of-sale automation, casino and gaming, lottery, and oil and gas sectors. Here are the addressable market sizes for their key offerings:
Food Service Technology (BOHA! terminal)
- The global restaurant technology market was valued at approximately USD 59.30 billion in 2024 and is projected to reach USD 314.85 billion by 2033, growing at a compound annual growth rate (CAGR) of 16.39%. Other estimates place the global restaurant technology market at USD 16 billion in 2024, expected to reach USD 35 billion by 2035 with a CAGR of 7.4%, or USD 5.93 billion in 2025, rising to USD 27.06 billion by 2035 at a CAGR of 16.39%.
- The broader global food technology market, which includes kitchen & restaurant tech, was valued at USD 210.9 billion in 2024 and is estimated to grow to USD 460.7 billion by 2034, with a CAGR of 8.2%.
- For the U.S. restaurant technology market specifically, over 70% of restaurants are implementing contactless payment systems, and nearly 60% of American diners prefer mobile ordering options.
- TransAct has identified opportunities for its BOHA! Terminal 2 in various international markets, with Italy alone representing up to 500 additional sales, and other countries in testing representing an opportunity of approximately 3,500 additional locations.
Point-of-Sale Automation (Thermal printers and terminals, consumable products)
- The global Point-of-Sale (POS) printers market was estimated at USD 14.02 billion in 2024 and is projected to reach USD 20.80 billion by 2030, with a CAGR of 6.7%. Another source states the global POS printer market was valued at USD 12.82 billion in 2025 and is projected to reach USD 35.97 billion by 2035, with a CAGR of 10.87%.
- In the U.S., the POS printer market was assessed at approximately USD 5.05 billion in 2024 and is projected to reach USD 7.87 billion by 2035, with a CAGR of 10.18%. North America held the largest share of the global POS printer market, accounting for over 33.0% in 2024.
- The global thermal printer market, a broader category encompassing POS printers, was valued at US$54.7 billion in 2026 and is projected to reach US$81.7 billion by 2033, growing at a CAGR of 5.9%. North America leads this market with a 38.1% share in 2025.
- The global thermal paper market, relevant for POS receipt paper, was valued at USD 4.37 billion in 2024 and is anticipated to reach USD 7.68 billion by 2033, growing at a CAGR of 6.46%. The U.S. thermal paper market is projected to reach USD 1.01 billion by 2027.
Casino and Gaming (EPICENTRAL print system, thermal printers)
- The global casino gaming equipment market was valued at USD 12.3 billion in 2025 and is projected to reach USD 15.4 billion by 2034, exhibiting a CAGR of 2.52%. Other estimates place the market size at USD 12.11 billion in 2024, projected to reach USD 19.28 billion by 2033, with a CAGR of 5.3%, or USD 13.95 billion in 2023, projected to reach over USD 21.21 billion by 2031, growing at a CAGR of 5.38%.
- North America dominates the casino gaming equipment market, holding over 35.8% market share in 2025.
Lottery (Thermal printers)
- The global lottery market size was estimated at USD 374.01 billion in 2025 and is projected to reach USD 596.48 billion by 2033, growing at a CAGR of 6.0%. Worldwide lottery sales were reported at $384.2 billion in 2024.
- The global ticket printers market, which would include lottery tickets, was valued at USD 0.8 billion in 2024 and is projected to reach USD 1.4 billion by 2034, with a CAGR of 5.9%.
Oil and Gas (Specialty printers for logging and plotting data)
- The global industrial printer market, a category that could encompass specialty printers for oil and gas, is valued at USD 13.7 billion in 2026 and is forecasted to reach USD 26.3 billion by 2036, at a CAGR of 6.7%.
- While TransAct's products in this sector are described as "printed logging and plotting of data," the closest related market found is the 3D Printing in Oil & Gas market. This global market was valued at USD 458.7 million in 2024 and is projected to grow to USD 1.2 billion by 2032, with a CAGR of 11.3%. However, this is for additive manufacturing of components rather than 2D data printing.
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```htmlExpected Drivers of Future Revenue Growth for TransAct Technologies (TACT)
TransAct Technologies (TACT) anticipates several key drivers for its future revenue growth over the next 2-3 years, primarily stemming from a strategic pivot towards software-centric solutions within its Food Service Technology (FST) segment, supported by its established casino and gaming operations.
- Shift to Software-Centric Model and Recurring Revenue in Food Service Technology (FST): The company's primary growth engine is expected to be its software offerings, particularly within the FST vertical. TransAct has acquired the BOHA! software source code, enabling it to enhance existing solutions, introduce new applications, and capture higher-margin recurring revenue streams. Plans include launching TransAct's own BOHA! software version by mid-2026, developing an application store model for its terminals, and migrating customers to a public cloud platform. The long-term objective is to significantly increase monthly recurring revenue (MRR) from its installed base of BOHA! terminals, targeting approximately $200 per machine per month.
- Continued Expansion and Adoption of BOHA! Terminals: While the strategic focus is on software, the sale and deployment of BOHA! terminals remain crucial as they serve as the hardware foundation for the FST software solutions. The company reported a 36% year-over-year increase in BOHA! terminal sales in 2025, selling 7,317 units. Initiatives like the rollout of the BOHA! Terminal 2 LTE with large franchise operators indicate continued efforts to expand the installed base, which in turn drives recurring software and consumable revenue.
- Growth in Recurring FST Revenue (Software Subscriptions and Consumables): Directly linked to the software strategy, a significant driver of revenue growth is the increasing recurring revenue from FST, which includes software and service subscriptions, as well as consumable label sales. TransAct's "land and expand" strategy aims to deepen penetration within existing customer bases, leading to increased software upsells and consistent consumable purchases. Recurring FST revenue demonstrated strong growth in 2025, increasing 14% year-over-year for the full year and 24% in Q4 2025.
- Targeted Investments in Sales, Marketing, and Product Innovation for FST: TransAct is making "targeted and disciplined investments" in marketing and growth initiatives within the FST vertical to accelerate adoption and maintain a competitive edge. This includes strengthening its go-to-market strategy, emphasizing software upsell, forging partnerships, and expanding into specific sub-verticals within the food service market. The appointment of a new Chief Marketing Officer further underscores the commitment to competitive positioning and lead generation.
- Stable Cash Flow Generation from Casino and Gaming to Fund FST Investments: Although not a primary growth segment itself, the casino and gaming division is consistently identified as a "reliable cash cow" that generates stable cash flow. This financial stability is crucial as it funds the significant investments required for product development, sales, and marketing efforts in the high-growth FST sector, enabling TransAct to execute its software-driven transformation.
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Share Issuance
- TransAct Technologies' weighted average common shares outstanding for the full year 2025 were 10.1 million, an increase from 10.0 million for the full year 2024.
- As of February 28, 2026, there were 10,239,045 common shares outstanding.
- Director Emanuel Hilario acquired 7,375 shares through restricted stock unit (RSU) conversions between February 27, 2026, and March 2, 2026, representing the vesting and settlement of equity awards rather than open-market purchases or sales.
Outbound Investments
- In 2025, TransAct Technologies secured a $2.55 million perpetual, royalty-free license to the BOHA! source code from Avery Dennison, along with approximately $1.0 million in transition services, to gain long-term control over its core software.
Capital Expenditures
- TransAct Technologies invested $60K in capital expenditures during Q3 2025.
- The company describes a year of continued investment in its food service technology platform in 2025, spending heavily on product development and marketing for FST.
- For 2026, the company expects to make targeted investments across the business, particularly in marketing and growth initiatives, as it shifts its focus towards software as a primary growth engine.
Latest Trefis Analyses
| Title | Date | |
|---|---|---|
| DASHBOARDS | ||
| Transact Technologies Earnings Notes | 12/16/2025 | |
| How Low Can Transact Technologies Stock Really Go? | 10/17/2025 |
| Title | |
|---|---|
| ARTICLES |
Trade Ideas
Select ideas related to TACT.
| Date | Ticker | Company | Category | Trade Strategy | 6M Fwd Rtn | 12M Fwd Rtn | 12M Max DD |
|---|---|---|---|---|---|---|---|
| 04302026 | GEO | GEO | Dip Buy | DB | P/E OPMDip Buy with Low PE and High MarginBuying dips for companies with tame PE and meaningfully high operating margin | 0.0% | 0.0% | 0.0% |
| 04302026 | RUN | Sunrun | Special | Short Squeeze PotentialShort Squeeze PotentialHas potential for a short squeeze. High short interest, rising short interest and high debt. | 0.0% | 0.0% | 0.0% |
| 04172026 | RSG | Republic Services | Monopoly | MY | Getting CheaperMonopoly-Like with P/S DeclineLarge cap with monopoly-like margins or cash flow generation and getting cheaper based on P/S multiple | 0.8% | 0.8% | -1.1% |
| 04102026 | VRSK | Verisk Analytics | Dip Buy | DB | FCFY OPMDip Buy with High FCF Yield and High MarginBuying dips for companies with high FCF yield and meaningfully high operating margin | 12.3% | 12.3% | 0.0% |
| 04102026 | UHAL | U-Haul | Monopoly | MY | Getting CheaperMonopoly-Like with P/S DeclineLarge cap with monopoly-like margins or cash flow generation and getting cheaper based on P/S multiple | 0.3% | 0.3% | -1.0% |
Research & Analysis
Invest in Strategies
Wealth Management
Peer Comparisons
| Peers to compare with: |
Financials
| Median | |
|---|---|
| Name | |
| Mkt Price | 290.86 |
| Mkt Cap | 48.5 |
| Rev LTM | 1,823 |
| Op Inc LTM | 194 |
| FCF LTM | 211 |
| FCF 3Y Avg | 155 |
| CFO LTM | 251 |
| CFO 3Y Avg | 166 |
Growth & Margins
| Median | |
|---|---|
| Name | |
| Rev Chg LTM | 15.5% |
| Rev Chg 3Y Avg | 21.6% |
| Rev Chg Q | 23.5% |
| QoQ Delta Rev Chg LTM | 5.0% |
| Op Inc Chg LTM | 38.4% |
| Op Inc Chg 3Y Avg | 73.8% |
| Op Mgn LTM | 12.4% |
| Op Mgn 3Y Avg | 16.7% |
| QoQ Delta Op Mgn LTM | 0.5% |
| CFO/Rev LTM | 14.8% |
| CFO/Rev 3Y Avg | 16.2% |
| FCF/Rev LTM | 11.3% |
| FCF/Rev 3Y Avg | 12.9% |
Valuation
| Median | |
|---|---|
| Name | |
| Mkt Cap | 48.5 |
| P/S | 9.4 |
| P/Op Inc | 53.5 |
| P/EBIT | 125.4 |
| P/E | 67.4 |
| P/CFO | 49.3 |
| Total Yield | 0.7% |
| Dividend Yield | 0.0% |
| FCF Yield 3Y Avg | 3.3% |
| D/E | 0.0 |
| Net D/E | 0.0 |
Returns
| Median | |
|---|---|
| Name | |
| 1M Rtn | 12.0% |
| 3M Rtn | 36.5% |
| 6M Rtn | 79.6% |
| 12M Rtn | 140.0% |
| 3Y Rtn | 722.7% |
| 1M Excs Rtn | 7.5% |
| 3M Excs Rtn | 27.2% |
| 6M Excs Rtn | 66.1% |
| 12M Excs Rtn | 112.9% |
| 3Y Excs Rtn | 679.2% |
Segment Financials
Revenue by Segment| $ Mil | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Design, development and marketing of software-driven technology and printing solutions and the sale | 43 | 73 | 58 | 39 | 31 |
| Total | 43 | 73 | 58 | 39 | 31 |
| $ Mil | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Design, development and marketing of software-driven technology and printing solutions and the sale | -4 | ||||
| Total | -4 |
| $ Mil | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Design, development and marketing of software-driven technology and printing solutions and the sale | -10 | 5 | |||
| Total | -10 | 5 |
Price Behavior
Price Behavior
| Market Price | $3.89 | |
| Market Cap ($ Bil) | 0.0 | |
| First Trading Date | 08/22/1996 | |
| Distance from 52W High | -31.2% | |
| 50 Days | 200 Days | |
| DMA Price | $3.38 | $4.04 |
| DMA Trend | down | down |
| Distance from DMA | 15.0% | -3.8% |
| 3M | 1YR | |
| Volatility | 46.8% | 47.9% |
| Downside Capture | -23.31 | 41.78 |
| Upside Capture | 27.57 | 33.29 |
| Correlation (SPY) | 4.3% | 9.3% |
TACT Betas & Captures as of 4/30/2026
[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
| 1M | 2M | 3M | 6M | 1Y | 3Y | |
|---|---|---|---|---|---|---|
| Beta | 0.42 | 0.00 | 0.07 | 0.48 | 0.41 | 0.51 |
| Up Beta | 0.64 | 0.68 | 0.21 | 0.64 | -0.01 | 0.26 |
| Down Beta | -2.69 | -1.28 | -0.80 | 0.56 | 0.37 | 0.44 |
| Up Capture | 14% | -6% | 6% | -7% | 38% | 21% |
| Bmk +ve Days | 15 | 22 | 31 | 66 | 141 | 428 |
| Stock +ve Days | 13 | 24 | 32 | 53 | 112 | 338 |
| Down Capture | -3% | 16% | 48% | 86% | 78% | 96% |
| Bmk -ve Days | 4 | 18 | 30 | 56 | 108 | 321 |
| Stock -ve Days | 8 | 18 | 31 | 68 | 124 | 375 |
[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
Based On 1-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with TACT | |
|---|---|---|---|---|
| TACT | 2.7% | 48.0% | 0.21 | - |
| Sector ETF (XLI) | 23.3% | 15.4% | 1.16 | 5.9% |
| Equity (SPY) | 29.5% | 12.0% | 1.86 | 9.0% |
| Gold (GLD) | 35.5% | 26.8% | 1.11 | 8.0% |
| Commodities (DBC) | 42.9% | 18.7% | 1.77 | 0.6% |
| Real Estate (VNQ) | 15.2% | 13.1% | 0.82 | 5.1% |
| Bitcoin (BTCUSD) | -31.3% | 41.8% | -0.78 | 1.4% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 5-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with TACT | |
|---|---|---|---|---|
| TACT | -20.0% | 54.4% | -0.21 | - |
| Sector ETF (XLI) | 12.2% | 17.4% | 0.54 | 14.3% |
| Equity (SPY) | 14.0% | 17.0% | 0.64 | 17.4% |
| Gold (GLD) | 18.8% | 18.0% | 0.85 | 5.6% |
| Commodities (DBC) | 10.4% | 19.4% | 0.42 | 8.0% |
| Real Estate (VNQ) | 3.8% | 18.8% | 0.10 | 11.9% |
| Bitcoin (BTCUSD) | 11.6% | 55.3% | 0.41 | 8.2% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 10-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with TACT | |
|---|---|---|---|---|
| TACT | -4.4% | 54.2% | 0.13 | - |
| Sector ETF (XLI) | 14.0% | 20.0% | 0.62 | 19.6% |
| Equity (SPY) | 15.7% | 17.9% | 0.75 | 19.7% |
| Gold (GLD) | 13.0% | 16.0% | 0.67 | 4.2% |
| Commodities (DBC) | 7.8% | 17.9% | 0.35 | 12.9% |
| Real Estate (VNQ) | 5.5% | 20.7% | 0.23 | 16.7% |
| Bitcoin (BTCUSD) | 66.7% | 66.9% | 1.06 | 6.8% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Returns Analyses
Earnings Returns History
Expand for More| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| 3/10/2026 | -8.5% | -5.7% | -7.4% |
| 11/10/2025 | 0.0% | -0.9% | 0.5% |
| 8/6/2025 | -0.5% | 9.7% | 18.6% |
| 3/13/2025 | 3.3% | 8.1% | -0.8% |
| 11/7/2024 | -0.2% | -5.0% | -2.4% |
| 8/8/2024 | 15.2% | 18.7% | 13.6% |
| 3/12/2024 | -14.4% | -23.6% | -28.4% |
| 11/9/2023 | 9.7% | 11.9% | 12.0% |
| ... | |||
| SUMMARY STATS | |||
| # Positive | 7 | 8 | 8 |
| # Negative | 11 | 10 | 10 |
| Median Positive | 9.7% | 10.8% | 14.7% |
| Median Negative | -4.5% | -6.1% | -10.6% |
| Max Positive | 31.9% | 43.6% | 54.2% |
| Max Negative | -14.4% | -23.6% | -28.4% |
SEC Filings
Expand for More| Report Date | Filing Date | Filing |
|---|---|---|
| 03/31/2026 | 05/13/2026 | 10-Q |
| 12/31/2025 | 03/12/2026 | 10-K |
| 09/30/2025 | 11/13/2025 | 10-Q |
| 06/30/2025 | 08/12/2025 | 10-Q |
| 03/31/2025 | 05/14/2025 | 10-Q |
| 12/31/2024 | 03/24/2025 | 10-K |
| 09/30/2024 | 11/12/2024 | 10-Q |
| 06/30/2024 | 08/09/2024 | 10-Q |
| 03/31/2024 | 05/14/2024 | 10-Q |
| 12/31/2023 | 03/13/2024 | 10-K |
| 09/30/2023 | 11/14/2023 | 10-Q |
| 06/30/2023 | 08/10/2023 | 10-Q |
| 03/31/2023 | 05/15/2023 | 10-Q |
| 12/31/2022 | 03/28/2023 | 10-K |
| 09/30/2022 | 11/14/2022 | 10-Q |
| 06/30/2022 | 08/18/2022 | 10-Q |
Recent Forward Guidance [BETA]
Latest: Q1 2026 Earnings Reported 5/12/2026
| Forward Guidance | Guidance Change | ||||||
|---|---|---|---|---|---|---|---|
| Metric | Low | Mid | High | % Chg | % Delta | Change | Prior |
| 2026 Revenue | 55.00 Mil | 56.00 Mil | 57.00 Mil | 0 | Affirmed | Guidance: 56.00 Mil for 2026 | |
| 2026 Adjusted EBITDA | 1.00 Mil | 1.38 Mil | 1.75 Mil | 19.6% | Raised | Guidance: 1.15 Mil for 2026 | |
Prior: Q4 2025 Earnings Reported 3/10/2026
| Forward Guidance | Guidance Change | ||||||
|---|---|---|---|---|---|---|---|
| Metric | Low | Mid | High | % Chg | % Delta | Change | Prior |
| 2026 Revenue | 55.00 Mil | 56.00 Mil | 57.00 Mil | 8.7% | Higher New | Guidance: 51.50 Mil for 2025 | |
| 2026 Adjusted EBITDA | 0.80 Mil | 1.15 Mil | 1.50 Mil | 53.3% | Higher New | Guidance: 0.75 Mil for 2025 | |
External Quote Links
| Y Finance | Barrons |
| TradingView | Morningstar |
| SeekingAlpha | ValueLine |
| Motley Fool | Robinhood |
| CNBC | Etrade |
| MarketWatch | Unusual Whales |
| YCharts | Perplexity Finance |
| FinViz |
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